Van ECK Associates Corp Has $2.96 Million Stock Position in East West Bancorp, Inc. (NASDAQ:EWBC)

Van ECK Associates Corp raised its position in East West Bancorp, Inc. (NASDAQ:EWBC) by 38.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 41,079 shares of the financial services provider’s stock after purchasing an additional 11,332 shares during the quarter. Van ECK Associates Corp’s holdings in East West Bancorp were worth $2,956,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in shares of East West Bancorp by 65.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 535 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 211 shares in the last quarter. Denali Advisors LLC boosted its stake in East West Bancorp by 66.7% in the fourth quarter. Denali Advisors LLC now owns 500 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Planned Solutions Inc. acquired a new position in East West Bancorp in the fourth quarter worth $40,000. Global Retirement Partners LLC increased its stake in shares of East West Bancorp by 1,050.0% in the fourth quarter. Global Retirement Partners LLC now owns 667 shares of the financial services provider’s stock valued at $47,000 after buying an additional 609 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of East West Bancorp in the fourth quarter valued at about $78,000. 89.53% of the stock is owned by institutional investors.

East West Bancorp Stock Performance

Shares of East West Bancorp stock opened at $77.49 on Tuesday. The stock’s fifty day simple moving average is $75.36 and its 200 day simple moving average is $69.82. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $10.78 billion, a PE ratio of 9.76, a PEG ratio of 0.96 and a beta of 1.38. East West Bancorp, Inc. has a 12 month low of $42.60 and a 12 month high of $79.54.

East West Bancorp (NASDAQ:EWBC) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. East West Bancorp had a return on equity of 17.43% and a net margin of 26.78%. The company had revenue of $644.13 million for the quarter, compared to analyst estimates of $636.77 million. During the same quarter last year, the firm posted $2.32 earnings per share. East West Bancorp’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts predict that East West Bancorp, Inc. will post 7.99 EPS for the current year.

East West Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Thursday, May 2nd. East West Bancorp’s dividend payout ratio (DPR) is presently 27.71%.

Insider Transactions at East West Bancorp

In related news, Director Molly Campbell sold 1,625 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $77.26, for a total value of $125,547.50. Following the completion of the transaction, the director now directly owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other East West Bancorp news, Director Molly Campbell sold 1,625 shares of East West Bancorp stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.26, for a total value of $125,547.50. Following the sale, the director now owns 10,321 shares of the company’s stock, valued at approximately $797,400.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack C. Liu sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $73.58, for a total value of $147,160.00. Following the transaction, the director now owns 16,739 shares of the company’s stock, valued at $1,231,655.62. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Analysts Set New Price Targets

EWBC has been the topic of several research reports. Citigroup upped their price target on shares of East West Bancorp from $85.00 to $91.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Morgan Stanley boosted their price objective on shares of East West Bancorp from $76.00 to $89.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods increased their price objective on East West Bancorp from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Stephens lifted their target price on East West Bancorp from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of East West Bancorp in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, East West Bancorp currently has an average rating of “Moderate Buy” and an average price target of $84.08.

About East West Bancorp

East West Bancorp, Inc operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States. The company operates through three segments: Consumer and Business Banking, Commercial Banking, and Other.